Buying a new property is not at all an easy task especially without the right lawyer to guide you through the whole process of conveyancing. But do you understand what Conveyancing or Body corporate Conveyancing is? If not, then here is everything that you know about body corporate Conveyancing.
What Is Conveyancing And Conveyancing Solicitor?
Conveyancing is an important process that comes in both buying and selling the property. It is a legal process that involves the legal transfer of the property between the owners of the property. Conveyancing solicitor act on the behalf of the buyer to make sure that the buyer receives the title deeds to the property he is buying. The whole process is to ensure that the property purchase is valid as per the law of the land.
What Is The Body Corporate?
The body corporate is formed with all the owners of the building or area. If you buy a property like a flat that has a body corporate you also become a member of the body corporate. Which means along with the title of your flat you also get the share in common areas of the property like a garden. The important thing to understand here is that you will have to share the maintenance cost so you should make sure what is your part of contribution along with another owner’s contribution?
How Does It Operate?
The body corporate has duties of the overall management of the proper such as
- Keeping all required insurance covers up to date;
- Repair and maintenance of the common property;
- Provide the owners with key documents
Why Is Conveyancing Solicitor Important In Case Of Body Corporate Conveyancing?
When you sign a contract to buy a plot in a body corporate you usually become an “interested party”.
Interested parties may check out the private documentation of the body corporate. That means you can go through into the building’s finances, read the minutes and correspondence and pour through the documents connecting to the scheme. You may also appoint a Conveyancing solicitor to do everything on your behalf and ensure that the deal is legal and worth when it comes to Body corporate Conveyancing. If there’s anything really complicated it might be best to cancel the contract and move away. Conveyancing is a complicated legal process you should hire Conveyancing solicitor because of the following reasons:
- Safeguard your rights and interests as a buyer and make sure that the whole deal is legal, and you get the legal document.
- He will take care of all the legal process such as submitting a tax return or pay the land duty land tax.
- He will forward all the documents of ownership transfer to the land registry.
- He will also carry out all the search in relation to the property with local authorities.
- He will prepare the complete documentation and transfer deeds required.
- He will inspect the body corporate role and ensure that all the things are I place and there is no legal hassle.
The body corporate conveyancing has all the power to change and add to the by-laws of the society or property. To deal with body corporate conveyancing procedure expert guidance should be needed to assure that everything is done rightfully. You should do a good research online and take reviews of your friends and family before hiring conveyancing solicitor. While he is there to do the major part of the work you should also be equally involved in the conveyancing process and understand your part of the roles and responsibilities.